Warren Buffett bought $400 million worth of Occidental Petroleum on December 19, marking the stock’s low.

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Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has shown a sustained interest in Occidental Petroleum (OXY) over the years. His latest purchase on December 19, 2024, saw him investing $400 million, marking the stock’s low point and subsequently triggering a rally. This strategic move is a testament to Buffett’s market acumen and confidence in Occidental’s long-term potential.

Buffett’s relationship with Occidental began in 2019, with his initial acquisition of shares. Over the years, he has steadily increased his stake, amassing over 283 million shares by 2024. Despite fluctuations in OXY’s stock price, Buffett’s continued investments highlight his unwavering belief in the company’s prospects.

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The December 19 purchase came during a period of market uncertainty, with OXY experiencing a downward trend. However, Buffett’s substantial investment at this juncture underscored his conviction in Occidental’s resilience and long-term value. Following this purchase, OXY stock experienced a notable rebound, reflecting Buffett’s significant influence on market sentiment.

Occidental Petroleum reported robust financial results in 2024, with notable growth in revenue and profit margins. The company’s focus on sustainable energy initiatives and strategic acquisitions has positioned it as a leader in the industry. Analysts have pointed out that Buffett’s investment is aligned with his historical preference for companies with strong fundamentals and growth potential.

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CEO Vicki Hollub of Occidental Petroleum expressed her optimism, stating, “We are committed to delivering value to our shareholders through innovative energy solutions and strategic growth.” Buffett echoed this sentiment, praising the company’s management and strategic direction.

As we move into 2025, Occidental Petroleum appears poised for continued growth, driven by its commitment to innovation and operational excellence. Buffett’s substantial investment serves as a significant vote of confidence in the company’s future, reinforcing its position as a key player in the energy sector.

Sources:

https://x.com/Barchart/status/1879724863197450729

https://www.gurufocus.com/guru-portfolio/Warren%20Buffett/OXY

https://stockcircle.com/portfolio/warren-buffett/oxy/transactions

https://tickertracker.io/portfolios/warren-buffett/OXY/transactions


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